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Dec 24, 2012
12/12
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WUSA
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working people in this country, and the bush tax cuts are tax cuts that did help our economy in the beginning. >> you know where this is going. if no deal by january 1st, taxes for 90% of us will be going up. and that's just the beginning. former president george h.w. bush may not be coming home in time for christmas. doctors at a houston hospital say the 41st president needs to build up his injury before they can release him. it can still happen. the 88-year-old mr. bush was hospitalized back on november 23rd for a bronchitis-related coughing. [ guns shooting ] [ trumpet playing ] >> the 19 cannon salute part of the final farewell for senator daniel inouye. the senator, army veteran and war hero died of respiratory complications last monday. president obama and military leaders were on hand as the state bid farewell to its most favorite son. daniel inouye was 88 years old. he was the second-longest serving senator in u.s. history. >>> remember the story? bronco, the police dog. he's been found. the loudoun county sheriff's office says the german shepherd made a getaway on friday af
working people in this country, and the bush tax cuts are tax cuts that did help our economy in the beginning. >> you know where this is going. if no deal by january 1st, taxes for 90% of us will be going up. and that's just the beginning. former president george h.w. bush may not be coming home in time for christmas. doctors at a houston hospital say the 41st president needs to build up his injury before they can release him. it can still happen. the 88-year-old mr. bush was hospitalized...
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Dec 28, 2012
12/12
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MSNBCW
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. >> tax hikes remain at the center of the stand-off. what is the dividing line between those gets those tax breaks extended and those who do not. they're holding out hope for an 11-hour deal. hardly the first time that washington has pushed things to the edge. >> i actually think there's still a chance to get something done. so, you know, these deals usually come together at the last moment. >> why are you cautiously optimistic when it seems everyone else is saying we're going to go over the cliff? >> well, to paraphrase ronald reagan, there's so much manure around here there has to be a pony around here. no one wants tax hikes on 98% of the american people. >>> the president faces a potential default in the coming months unless the debt ceiling is raised again. a mo >> it's somewhat like taking your child hostage and saying to somebody else i'm going to shoot my child if you don't want done. there's no republican leader that wants to default on our debt that i talked to, that should be nonpartisan. >> congressman, not the best choice o
. >> tax hikes remain at the center of the stand-off. what is the dividing line between those gets those tax breaks extended and those who do not. they're holding out hope for an 11-hour deal. hardly the first time that washington has pushed things to the edge. >> i actually think there's still a chance to get something done. so, you know, these deals usually come together at the last moment. >> why are you cautiously optimistic when it seems everyone else is saying we're...
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269
Dec 31, 2012
12/12
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KGO
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eye 269
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leaders are offering up to $450,000 in family income before higher taxes kick in. last night they were unable to make a counter offer to republicans, vice president biden was called in to break the ice. "good morning america" will have the latest at 7:00. >> number two, house fire in san francisco sent two to the hospital. two story structure on athens street was well involved by the time firefighters arrived before 1 this morning. a gas main ruptured crews were >> number three, secretary of state clinton, still in the hospital this morning. getting treated with blood thinners for a blood clot. the clot was found yesterday during a follow-up exam. the secretary suffered a concussion from a fall ii >> number four, stanford cardinal will make a final run through in pasadena opponent wisconsin appearing in its third straight rose bowl. they hope taylor will -- taylor -- >> number five, plenty of transit options from new year's eve revelry bart will run trains until 3:00 tomorrow morning, tree to ride muni 8:00 tonight -- free to ride muni 8:00 tonight. bart is not fre
leaders are offering up to $450,000 in family income before higher taxes kick in. last night they were unable to make a counter offer to republicans, vice president biden was called in to break the ice. "good morning america" will have the latest at 7:00. >> number two, house fire in san francisco sent two to the hospital. two story structure on athens street was well involved by the time firefighters arrived before 1 this morning. a gas main ruptured crews were >> number...
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Dec 27, 2012
12/12
by
WBAL
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eye 153
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. >> i don't so how you could hammer out any kind of a grand bargain or large plan involving tax reform and entitlement changes in a matter of days. >> reporter: serious doubt is setting in. even starbucks is getting involved, writing "come together" on its cup. speaker john boehner says he's sitting this round out after failing to get enough house republicans to support his own plan just before christmas. >> i think boehner is being controlled unfortunately by the right wing. >> reporter: that leaves it up to majority leader harry reid and the rest of the senate to find a possible solution. aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate big spends cut and restore unemployment benefits. >> i think you're likely to see a two-step process here. one sort of dealing with the immediate dynamic so you can deal with the larger situation. >> reporter: without a deal, bush era tax cuts will expire january 1st and deep spending cuts will set in. congress set up the deadline hoping it would force a compromise. so far, that's backfired. also flying b
. >> i don't so how you could hammer out any kind of a grand bargain or large plan involving tax reform and entitlement changes in a matter of days. >> reporter: serious doubt is setting in. even starbucks is getting involved, writing "come together" on its cup. speaker john boehner says he's sitting this round out after failing to get enough house republicans to support his own plan just before christmas. >> i think boehner is being controlled unfortunately by the...
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Dec 27, 2012
12/12
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WMAR
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the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a good job. >>> just a few hours you will be able to gamble any time of the day that you want. >> maryland live casino is getting ready to open its doors and once that happens they're going to remain open 24/7. >> abc2 news linda so is there this morning and linda the apartment was empty. casino is empty but it's not going to stay that way for long. >> reporter: no, just a few hours at 8:00 to be exact they'll be opening the doors for good. the lights are so pretty. they're getting ready for a big day today. when the doors open at 8:00 this morning they will stay
the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a...
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230
Dec 27, 2012
12/12
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KPIX
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eye 230
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they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is now leaving it up to the democratic-controlled senate to solve the problem before the new year deadline. in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let's look now at the markets. stocks fell sharply by 55 and change. the drop is attributed to consumer confidence fal
they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter:...
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Dec 31, 2012
12/12
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WUSA
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a lot of the tax deductions and personal exemptions they usually lose to lower their tax bill, those would go away. >> reporter: even if you don't have a job, congress is also negotiating an extension of long-term unemployment benefits for 2 million americans. so what can you do? >> reporter: unfortunately, there is not a lot of things people can do. i think people can contact their members of congress to say they are not happy with the job they are doing or not doing. otherwise watch, pay attention. you might be paying a bigger tax bill. >> reporter: a harsh reality, no matter who you are, with very real and realtime consequences. >>> making news now at 5:52. a tour bush crash in easter, oregon has killed nine people and injured more than 20 others. the driver lost control on interstate 84. the bus crashed through a guardrail and plummeted down a steep embankment. investigators are waiting to talk to the bus driver, because he was seriously injured. >>> new england doesn't have to be dreaming about a white new year's because it is here. milford, massachusetts got more than a foot of
a lot of the tax deductions and personal exemptions they usually lose to lower their tax bill, those would go away. >> reporter: even if you don't have a job, congress is also negotiating an extension of long-term unemployment benefits for 2 million americans. so what can you do? >> reporter: unfortunately, there is not a lot of things people can do. i think people can contact their members of congress to say they are not happy with the job they are doing or not doing. otherwise...
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154
Dec 30, 2012
12/12
by
FOXNEWSW
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eye 154
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katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one member was in that upper income bracket. well, if it turned just under, then the 75% rate would not apply. in essence, this was thrown out on a technicality. if was a poorly worded law that just didn't pass the constitutional barrier. >> you know, it is kind of confusing. the president actually campaigned on this75% tax. what happened, and will he try to get it reinstated? >> you are quite right. he made this a key platform of his manifesto. he has gone all out on this, and he even dressed up the tax as an act that the way france's rich could help during harsh economic times. he has not backed down and in fact in the last few hours the officials have said the law will be redrafted to conform with the court ruling and wi
katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one member was in that upper income bracket. well, if it turned just under, then the 75% rate would not apply. in essence, this was thrown out on a technicality. if was a poorly worded...
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Dec 28, 2012
12/12
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MSNBCW
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eye 99
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taxes. we just couldn't come to an agreement. look how great the 113th is to start off the new years. >> and everyone gets to say, you know what? none of our problems will be solved. >> i'm over the fiscal cliff. i'm over you. i really am. >> i quit it, too. i'm with you, thomas. >> i wish i could quit it. >> this is political coward is at its finest. they have passed the bill that lets them do the things that they really want to do. republicans would love to eat into entitlements, but has no fingerprints to say, hey, we didn't do it, the fiscal cliff did it. >> this could be easy to do, i think, because they were close a week ago, then boehner put forward that gimmick on plan b. if they can't get this solved, how will we deal with immigration reform, which i this i is more politically challenging. >> these are self-inflicted punches, wounds, that they crafted to make them better, and they are failing. thanks for putting up with me too, this time. >>> a final salute to general norman schwarz
taxes. we just couldn't come to an agreement. look how great the 113th is to start off the new years. >> and everyone gets to say, you know what? none of our problems will be solved. >> i'm over the fiscal cliff. i'm over you. i really am. >> i quit it, too. i'm with you, thomas. >> i wish i could quit it. >> this is political coward is at its finest. they have passed the bill that lets them do the things that they really want to do. republicans would love to eat...
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Dec 24, 2012
12/12
by
WBAL
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eye 118
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>> whether it is the holiday spirit or tax deduction, a charitable giving tends to give up this time of year. >> he did have some charities that are just forming. their intent was good. they needed to go through the process. >> there's plenty of advice about charitable giving. >> be aware of unsolicited e- mail, texts, phone calls. >> you can check out a charity online at give.org. >> they look get financial information but also fund raising and effectiveness information. >> they list charity expenses. how much of your dollar goes towards the actual cause. fundraising expenses and administrative costs, which should be called. at least 65% of your money should go to programs. a special with newer charities, asked questions before you give. >> it needs to be registered. >> it is not just the attorney general that needs to sign off. if you're planning to give to relief, there is a list of credible charities. out to anyke it individuals. >> lady gaga has made good on her promise to reach out to daniel borowy. he is a longtime fan of lady gaga. she was urged to come to visit. he did recei
>> whether it is the holiday spirit or tax deduction, a charitable giving tends to give up this time of year. >> he did have some charities that are just forming. their intent was good. they needed to go through the process. >> there's plenty of advice about charitable giving. >> be aware of unsolicited e- mail, texts, phone calls. >> you can check out a charity online at give.org. >> they look get financial information but also fund raising and effectiveness...
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137
Dec 27, 2012
12/12
by
WBAL
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eye 137
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talks cooled over the holidays over how to avoid the massive tax hikes. >> taxes are going to go up no matter what. they go up a lot more and that is where the political hit comes. >> house republicans point the finger at the other chamber saying the senate must act on a bill to avoid the fiscal cliff. the gop is blamed for the holdup. no further legislation can move unless republicans drop their knee-jerk obstruction. the mayfield gradual at first, except on wall street. >> the reaction of the financial markets and the stock markets. you could see something quick. >> a top ceo is hoping to jolts them into action. >> i am maintaining my optimism that we will see the republicans and administration come together and do what is right for the country. >> starbucks its in its message that our players in washington and take me out an ad featuring a quotation from lincoln. will it work? we will see. >> hallie jackson, thank you. >> kim dacey is live on what you need to know. >> about a dozen state laws will go into effect next tuesday. we have highlighted just a few. with any new year comes n
talks cooled over the holidays over how to avoid the massive tax hikes. >> taxes are going to go up no matter what. they go up a lot more and that is where the political hit comes. >> house republicans point the finger at the other chamber saying the senate must act on a bill to avoid the fiscal cliff. the gop is blamed for the holdup. no further legislation can move unless republicans drop their knee-jerk obstruction. the mayfield gradual at first, except on wall street. >>...
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Dec 25, 2012
12/12
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MSNBCW
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eye 297
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i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big a deal as possible, but you've got to remember now, we're just a few days away. >> if no deal is reached over 2 million americans will lose their jobless benefits and workers will see a 2% cut in take home pay as social security payroll taxes go up january 1st. jennifer johnson, nbc news, washington. >> well, around this time of year, there is a big surprise that happens on the rockefeller center ice skating rink outside our news world headquarters. it happens about half a dozen times a day every day. erica hill has the story. >> right outside our doors at rockefeller center, home to the christmas
i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big a deal as possible, but you've got to...
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Dec 30, 2012
12/12
by
MSNBCW
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eye 163
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i think the payroll tax was so for the making tax credit. so when that wasn't renewed that was the best option. i think the payroll tax cut is the best option. i feel like i'm one note on this but to go back to what i said earlier. ultimately, what will keep social security sustainable is the rate of growth in the economy. and i had to trade a couple more years of reduced revenue for social security for more growth, i think more growth is the right trade to make. i'm worried -- a lot of worrying about if we keep the payroll tax low or we lose money for social security over the long term? probably, but i think it's offset by the additional growth you get from just having lower unemployment and faster gdp growth and the whole nine yards. >> one thing that the way they have deviced the payroll tax holiday, they say technically speaking they're not taking money from social security. they're replacing it with money from the general budget. so you never actually have, a gap. but the concern is that that ends up lumping together social security, wh
i think the payroll tax was so for the making tax credit. so when that wasn't renewed that was the best option. i think the payroll tax cut is the best option. i feel like i'm one note on this but to go back to what i said earlier. ultimately, what will keep social security sustainable is the rate of growth in the economy. and i had to trade a couple more years of reduced revenue for social security for more growth, i think more growth is the right trade to make. i'm worried -- a lot of...
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127
Dec 28, 2012
12/12
by
WBAL
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eye 127
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taxes will go out by an average of $4,400 for u.s. households if we go over the fiscal cliff. >> 5:23. maryland has a state bird and the state fish. >> what about a state sen w >> the star of bethlehem has been shining bright. the new owners have put the property up for sale. this will be the last year the ght the baltimoree baltimor sky. >> some lawmakers want the soft selhell crab to be the maryland state sandwich. lawmakers passed such legislation making it the official state dinner. >> are you a fan? >> i am not. >> a lot of people love it. 5:26. >> will it be progress or paralysis? all the details are just ahead. >> baltimore port workers could soon be going on strike. >> we are watching the next storm system that could bring more snow to maryland. >> this is 895 at the harbor tunnel. it is looking good at the moment >> you're watching wbal-tv 11. live, local, late-breaking. this is 11 news today at 5:00 a.m. >> good morning. welcome back to 11 news today. i am jennifer franciotti. >> i am sarah caldwell. thanks for joining us fo
taxes will go out by an average of $4,400 for u.s. households if we go over the fiscal cliff. >> 5:23. maryland has a state bird and the state fish. >> what about a state sen w >> the star of bethlehem has been shining bright. the new owners have put the property up for sale. this will be the last year the ght the baltimoree baltimor sky. >> some lawmakers want the soft selhell crab to be the maryland state sandwich. lawmakers passed such legislation making it the...
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164
Dec 27, 2012
12/12
by
FOXNEWSW
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eye 164
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we have a governor focused on jobs and taxes. he's talking about gun confiscation. >> you can accomplish my -- publish my name if i don't pay taxes. >> these are people obeying the law. domestic violence victims, retired police. no way they should make this accessible for criminals and nut jobs. >> eric: have we heard from the paper? >> they are refuse to comment. >> no apologies, no we made a mistake. >> trace: and they haven't pulled the information. >> eric: have you contacted them. >> not recently but they know about my piece of legislation we got done in the assembly. >> this story is heating up on the internet, twitter and facebook. gregg ball, thank you very much. >> good to be here. >>> we have to leave it there. i'll see you on the five, 2.5 minutes or so. be right over there. [ male announcer ] this is joe woods' first day of work. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it yet, but he'll wk his way up from busser to waiter to chef before opening a restaurant special
we have a governor focused on jobs and taxes. he's talking about gun confiscation. >> you can accomplish my -- publish my name if i don't pay taxes. >> these are people obeying the law. domestic violence victims, retired police. no way they should make this accessible for criminals and nut jobs. >> eric: have we heard from the paper? >> they are refuse to comment. >> no apologies, no we made a mistake. >> trace: and they haven't pulled the information....
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153
Dec 30, 2012
12/12
by
FOXNEWSW
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eye 153
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katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one member was in that upper income bracket. well, if it turned just under, then the 75% rate would not apply. in essence, this was thrown out on a technicality. if was a poorly worded law that just didn't pass the constitutional barrier. >> you know, it is kind of confusing. the president actually campaigned on this75% tax. what happened, and will he try to get it reinstated? >> you are quite right. he made this a key platform of his manifesto. he has gone all out on this, and he even dressed up the tax as an act that the way france's rich could help during harsh economic times. he has not backed down and in fact in the last few hours the officials have said the law will be redrafted to conform with the court ruling and wi
katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one member was in that upper income bracket. well, if it turned just under, then the 75% rate would not apply. in essence, this was thrown out on a technicality. if was a poorly worded...
101
101
Dec 27, 2012
12/12
by
CNNW
tv
eye 101
favorite 0
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these are people that pay no income tax. so my job is not to worry about those people. >> he acts as a character witness against himself in this video. he compounded every stereotype in this campaign. in that one fumble clip. >> the only thing we can do here is play newt gingrich. we have to play the skewed media. four out of five fumbles were republican? i guess they were. >> that's just deflection. you don't want to deal with the truth here. >> busboys should not be allowed to have video cameras when way they are waiting tables. who took that? >> it was somebody in the kitchen. >> the first spot is great and how perfect could it end if mitt romney ended up getting 47% of the vote. >> exactly right. >> that was perfect. but he didn't want to be president anyway. >> and if you believe that, i gotten years of your life back for you. >> and a million dollars later he tells me that. >> well, we are going to do this again tomorrow, but we are going ♪ aww man. [ male announcer ] returns are easy with free pickup from the u.s. p
these are people that pay no income tax. so my job is not to worry about those people. >> he acts as a character witness against himself in this video. he compounded every stereotype in this campaign. in that one fumble clip. >> the only thing we can do here is play newt gingrich. we have to play the skewed media. four out of five fumbles were republican? i guess they were. >> that's just deflection. you don't want to deal with the truth here. >> busboys should not be...
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122
Dec 27, 2012
12/12
by
WBAL
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eye 122
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. >> taxes are going to go up no matter what. they could go up a lot more, and that is where the political hit comes. >> house republicans point the finger at the other chamber, saying the senate must act on a bill to avoid the fiscal cliff. a spokesman for harry reid some are blaming the gop for the holdup. no further legislation can move unless republicans drop their knee-jerk obstructionism. if the country falls off the fiscal cliff, it may feel gradual at first, except on wall street. >> the reaction from the financial markets and the stock markets -- you could see something quick. >> a top ceo is hoping to jolt them into action. he wants employees to write " come together" on the coffee cups. >> i am maintaining my optimism that we will see the republicans and administration come together and do what is right for the country. >> starbucks has a message for the players in washington and is taking out an ad in "the washington post" featuring a quote from lincoln. will it work? we will see. hallie jackson, wbal-tv 11 news. >> 6
. >> taxes are going to go up no matter what. they could go up a lot more, and that is where the political hit comes. >> house republicans point the finger at the other chamber, saying the senate must act on a bill to avoid the fiscal cliff. a spokesman for harry reid some are blaming the gop for the holdup. no further legislation can move unless republicans drop their knee-jerk obstructionism. if the country falls off the fiscal cliff, it may feel gradual at first, except on wall...
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177
Dec 30, 2012
12/12
by
WBAL
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. >> you have a few days to make a difference on 2012 taxes. i'll explain coming up. >> and for those of you planning to go out for new year's eve, we'll look at the forecast coming up. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? >> now, your 11 insta-weather plus forecast with meteorologist ava marie. >> we are taking a look at the radar right now and lake-effect snow showers have been tracking through ohio, pennsylvania, west virginia, all morning long. some are accumulating. what we are watching is a few flurries trying to make their way into central maryland. we've seen a couple of around baltimore. someone reported a flurry in
. >> you have a few days to make a difference on 2012 taxes. i'll explain coming up. >> and for those of you planning to go out for new year's eve, we'll look at the forecast coming up. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite...
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146
Dec 27, 2012
12/12
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CNNW
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eye 146
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but perhaps, democrats think if they can add an extension of the estate tax cut or put tax extenders in there they can lure some republicans. but that is part of the negotiation that's going to go on behind the scenes between democrats and one by one republican after republican. what do you need in order to come to the table. >> the senate democrats saying they think it's best to wait until the very last minute. why is that? >> this is going to make voters and viewers so happy i'm sure. the reason is because they know the reality. and they have seen it time and time again, congress acts when they are up against a deadline and not before. we are close to it. but it won't be until they are facing the cliff and teetering off the edge that the republicans will say fine, uncle, i'll go for this even though i don't think it's the right thing. but i've got to tell you, randi, still for the most part, democrat and. >> rob: sources do think that the most likely scenario is going off the cliff, and the reason is because, again, this is not going to make voters or viewers happy, is because poli
but perhaps, democrats think if they can add an extension of the estate tax cut or put tax extenders in there they can lure some republicans. but that is part of the negotiation that's going to go on behind the scenes between democrats and one by one republican after republican. what do you need in order to come to the table. >> the senate democrats saying they think it's best to wait until the very last minute. why is that? >> this is going to make voters and viewers so happy i'm...
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they have a wealth tax and not just the u.k. i'm a lot of wealth tax but you wouldn't do it you wouldn't prevent the creation of a billion dollar fortunes all you do is raise some revenue. i'm really at a loss to know exactly how to deal with the situation that we've gotten ourselves into it is a tough one i'm curious what your thoughts are eric holder suggesting national voters standards are going to shift the topic here and the problem. i'm guessing you saw earlier the clip of paul always saying you know our leverage in the elections goes up as the voting populace goes down this should basically be the republican party's plan. publicans hate democracy when the comes right down to it. they spend they they really don't think poor people and it's very common to hear republicans say that people on welfare should not be allowed to vote now that wouldn't i think there's an awful lot of people who are on welfare mainly the the elderly who receive all their income from the so scary medicare who nevertheless vote republican and don't r
they have a wealth tax and not just the u.k. i'm a lot of wealth tax but you wouldn't do it you wouldn't prevent the creation of a billion dollar fortunes all you do is raise some revenue. i'm really at a loss to know exactly how to deal with the situation that we've gotten ourselves into it is a tough one i'm curious what your thoughts are eric holder suggesting national voters standards are going to shift the topic here and the problem. i'm guessing you saw earlier the clip of paul always...
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the impact of some of these cuts and taxes would not be felt immediately on january 1. that's because the i.r.s. and other agencies didn't expect it to come to this, and so it will take a few weeks for workers to see more money being withheld in their paychecks, jim. >> axelrod: nancy cordes with the president in hawaii. thank you. there is new evidence that the housing market is coming back. a report out today showed home prices were up 4.3% in october compared to last year. prices rose in 18 of the 20 largest cities. tonight, 88-year-old george h.w. bush remains in a hospital in houston where he's been since last month battling a bad cough. the former president now has a persistent fever. bob orr joins us now from washington with details. bob. >> reporter: good evening, jim. well, a spokesman for the bush family says that former president george h.w. bush is in "guarded condition," with that stubborn fever you mentioned that's not responding well to tylenol. the 88-year-old former president is on a liquid diet, and tonight he's in an intensive care unit at the houston
the impact of some of these cuts and taxes would not be felt immediately on january 1. that's because the i.r.s. and other agencies didn't expect it to come to this, and so it will take a few weeks for workers to see more money being withheld in their paychecks, jim. >> axelrod: nancy cordes with the president in hawaii. thank you. there is new evidence that the housing market is coming back. a report out today showed home prices were up 4.3% in october compared to last year. prices rose...
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president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories from raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. both democrats and republicans deploy scorched earth tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. >>> but in a last minnesota minute compromise, both sides agree to $1 trillion in spending cuts up front, and another $1.2 trillion in cuts to be decided by a special congressional super committee. but a poison pill was attached. if the super committee can't reach a deal, automatic across the board cuts known as the sequester would go into effect, starting january 2013. at the exact moment when those bush tax cuts extended for two years, if you remember, would exp
president of americans for tax reform. norquist's pledge, signed by almost all republicans in congress, forbids signatories from raising taxes ever, under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. both democrats and republicans deploy scorched earth tactics that nearly shut down the government and...
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an increase in the estate tax. in case those discussions break down, the president asked harry reid to prepare a separate bill to put on the floor of the senate that would raise taxes on households that earn $250,000 or more. now, that's really a democratic proposal and you could expect republicans to block it, so, rather than thinking of that as a stop gap measure, probably think of it as a political measure to shift the responsibility for failure on to republicans just before the nation hits the hour of wreckening. alison? >> thanks. >>> lawmakers could vote as early as today and when it happens, you can watch live coverage right here on cnn. >>> the president will continue to plead his case for a deal today. he's making his first appearance on a sunday talk show in more than three years. he'll be on nbc's "meet the press." he'll call for an immediately vote for congress on a scale-back plan that would only extend middle class tax breaks if the negotiations fail. >>> other news now, second degree murder as a hate
an increase in the estate tax. in case those discussions break down, the president asked harry reid to prepare a separate bill to put on the floor of the senate that would raise taxes on households that earn $250,000 or more. now, that's really a democratic proposal and you could expect republicans to block it, so, rather than thinking of that as a stop gap measure, probably think of it as a political measure to shift the responsibility for failure on to republicans just before the nation hits...
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higher tax rate. john boehner floated a plan that would have kept low rates for those making up to a million dollars. two house members talked to us earlier today about where the tax issue is likely heading. >> the $400,000 level seems to me to be about right. that represents about the top 1% of income earners in the country. we need to save tax hikes on as many americans as we can. i kind of feel like i'm a life guard and we got to save as many people from crown not guilty higher taxes as we can. >> the challenge is finding the right figure to win some republican support in the senate and attract enough votes to pass the house. kelly. >> kelly: interesting comment right there, feeling like a life guard. many people are wondering if they're going to do that on capitol hill. thanks so much. going to be an interesting new year. watch fox sunday tomorrow. chris wallace talks with lindsey graham and nine fine stein. check your -- diane feinstein. >> heather: new york city police have a woman in custody wh
higher tax rate. john boehner floated a plan that would have kept low rates for those making up to a million dollars. two house members talked to us earlier today about where the tax issue is likely heading. >> the $400,000 level seems to me to be about right. that represents about the top 1% of income earners in the country. we need to save tax hikes on as many americans as we can. i kind of feel like i'm a life guard and we got to save as many people from crown not guilty higher taxes...
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we stand right now at three days and counting until that new year's deadline when taxes would go up for all u.s. taxpayers and steep spending cuts would kick in across the board. nicole collins has the latest. >> reporter: john boehner back in washington immediately heading to the white house, which brought the president and congressional leaders together the first time since november, but it's unclear if it brought the country closer to avoiding the fiscal cliff. >> when the president calls congressional leaders to the white house, it's all political theatre or they have a deal. not that it's all political theatre. >> this is not for show but a last-ditch effort by the president to bring congressional leader together to try to get a small package at least, a small deal together before the new year. >> reporter: the president called the meeting as lawmakers pointed fingers in this high- stakes game of chicken. >> the republicans who are holding hostage the middle class in america society wealthy don't have to pay their fair share. >> we need two words: presidential leadership on not jus
we stand right now at three days and counting until that new year's deadline when taxes would go up for all u.s. taxpayers and steep spending cuts would kick in across the board. nicole collins has the latest. >> reporter: john boehner back in washington immediately heading to the white house, which brought the president and congressional leaders together the first time since november, but it's unclear if it brought the country closer to avoiding the fiscal cliff. >> when the...
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cuts becoming the tax cut santa clause but not shooting. the social security santa clause as it were and the extension of judes theory was at least as it seems to have been carried out by republicans over the years since then was forced the democrats to shoot their own santa clause by running up huge debts when republicans are in power and it seems like that's how it's played out what are your thoughts on well i think there was an unstated assumption that maybe jude didn't even realize that was a powerful part of his argument which was that there was a limit to the deficit so the theory was if you cut spend taxes and create a bigger deficit then to the extent that people are concerned about deficits and want to reduce deficits that will get channeled into cutting spending and that became something that is more popular known as starve the beast and it's the underlying principle underneath the tax pledge but it turned out that there wasn't that much of a limit to the deficit and so you ended up simply with lower taxes and higher spending and
cuts becoming the tax cut santa clause but not shooting. the social security santa clause as it were and the extension of judes theory was at least as it seems to have been carried out by republicans over the years since then was forced the democrats to shoot their own santa clause by running up huge debts when republicans are in power and it seems like that's how it's played out what are your thoughts on well i think there was an unstated assumption that maybe jude didn't even realize that was...
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. >> we need two words, presidential leadership on not just taxing rich people, we could tax all the rich people and cut their heads off and it wouldn't help the medicare fiscal cliff. >> reporter: with time running out hopes for a grand bargain have diminished with talk now of a smaller deal that extend bush tax rate for the middle class and extends unemployment benefits but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small kick the can down the road bill that creates another fiscal cliff to deal with this fiscal cliff. >> reporter: with expectations for a deal low, lawmakers are now talking about how to retroactively fix any damage done by going over the cliff in the new congress. in washington nicole collins, fox news. >>> we are, of course, going to have much more on the fiscal cliff negotiations coming up at 10:30. a republican and democratic strategist will face off here and talk about the prospects for reaching a deal. >>> a strike that could have shut down ports all over the east coast have been averted for now. the l
. >> we need two words, presidential leadership on not just taxing rich people, we could tax all the rich people and cut their heads off and it wouldn't help the medicare fiscal cliff. >> reporter: with time running out hopes for a grand bargain have diminished with talk now of a smaller deal that extend bush tax rate for the middle class and extends unemployment benefits but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a...
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be able to offer compromised plan. >>> they will have two days to strike a deal to avoid automatic tax hikes for everyone and also to avoid across-the-board spending cuts. audrey barns has more on that fiscal cliff countdown. >> reporter: lawmakers summoned to the white house for an emergency summit to try to hammer out a deal to avoid the fiscal cliff and describe the talks as productive. they didn't produce an agreement. from the senate floor, words of optimism from minority leader mitch mcconnell. >> we're engaged in discussions, the majority leader and myself and the white house and in hopes that we can come forward as early as sunday and have a recommendation. >> reporter: harry reid took a cautionary town, perhaps to allay the fears of americans who are wonder how long going off the cliff will affect their paychecks. analysts say taxes on people making between 50,075,000 a year will go up an average of $2,500. >> whatever we go up is going to bem perfect. some people are not going to like it and some will like it less and that is where we are. i feel confident we have an obligati
be able to offer compromised plan. >>> they will have two days to strike a deal to avoid automatic tax hikes for everyone and also to avoid across-the-board spending cuts. audrey barns has more on that fiscal cliff countdown. >> reporter: lawmakers summoned to the white house for an emergency summit to try to hammer out a deal to avoid the fiscal cliff and describe the talks as productive. they didn't produce an agreement. from the senate floor, words of optimism from minority...
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no agreement would mean spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today in salt lake city. the 200 teachers come from districts across utah. they have volunteered for the concealed weapons training. organizers say in past years, only a few dozen teachers attended the training. they're expecting an overflow crowd because of this month's tragedy in newtown, connecticut. >>> west webster volunteer firefighters, who had been in guarded condition, are now being upgraded to satisfactory condition. the hospital released a statement on their behalf saying they're humbles and overwhelmed by the outpouring of well-wishes for us and our families, end quote. a police officer who was slightly injure
no agreement would mean spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today...
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>> if all tax rates go up, any deal can be called a tax cut. it's simple like that. if you go over the cliff, anything's a tax cut. >> if you do it now how's it interpreted? >> the interpretation will some primary voters is you danced around on rates. >> or they pass a bill cutting taxes continuing the bush tax cuts for under $500,000 a year. something they agree on. >> because of what bob's saying is they're worried some voters are going to look at that -- >> unaware of reality that they would confuse this week with next week in terms of the same results. >> governor norquist agrees with you. but some republicans especially in the house who are unwilling to make the plan "b" type deal. >> but in the end where do you think it's going to end up? $500,000? $600,000? >> it's going to be in the middle. closer to obama's $400,000. >> i think that's about right. sounds about like $400,000. >> which leaves out less than 2% of the people. >> absolutely. >> people say that's an average income. most people make about $40,000 a year. that's average. $40,000 and that's with thre
>> if all tax rates go up, any deal can be called a tax cut. it's simple like that. if you go over the cliff, anything's a tax cut. >> if you do it now how's it interpreted? >> the interpretation will some primary voters is you danced around on rates. >> or they pass a bill cutting taxes continuing the bush tax cuts for under $500,000 a year. something they agree on. >> because of what bob's saying is they're worried some voters are going to look at that --...
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if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican support, i can tell you what would pass. if asked if he was optimistic, he said he was neither optimistic or pessimistic but was going back to talk to the president. the senate majority leader sounded frustrated with house republican leadership. >> american people i don't think understand the house of representatives is operating out the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of the house representatives to get what they want. >> reporter: as you mentioned, trace, the speaker's spokesman said afterward, reid should focus on legisla
if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican...
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senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everything. >> while senators try to brave the bad weather in many parts of the country in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. house republicans scuttled a proposal from speaker john boehner last week, and 48% of americans say they are to blame if no deal is reached. >> both sides here have a problem with the american people, and it's why congress has an 11% job approval rating. >> frank lund says americans are fed up with gridlock in washington. >> there is no compromise, and i think that's going to grow as a concern among the public as we move into 2013. >> even starbucks is urging both sides to compromise. its employees are now writing "come together" on coffee cups in all washington, d.c., area stores. now, if congress does not act, experts believe the economy will
senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everything. >> while senators try to brave the bad weather in many parts of the country in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. house republicans scuttled a proposal...
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the tax impact for the average american family is more than $3400. senate leaders continue to work on the stop gap bill. the sticking points remain. >> there is still significant distance between the two sides. negotiations continue. >> negotiations will continue through the night. now with just hours to go until the deadline. abc news, washington. >>> as the government teeters on the edge of the fiscal cliff, you might want to change your tax strategy. coming up at 11:35, advice from 7 on your side's michael finney. >>> the leaders in the house and the senate did agree on something today. they extended the 2008 farm bill for one more year. that bill expired in october. milk prices could have doubled to $7 a gallon next month if lawmakers failed to extend it. the agreement prevents the government from returning to a 1948 formula to set milk prices. some economists call this the dairy cliff. >>> today was the last sunday for free meter parking in san francisco. next sunday you will have to pay from noon to 6:00 p.m. atish ifer man's wharf from noon un
the tax impact for the average american family is more than $3400. senate leaders continue to work on the stop gap bill. the sticking points remain. >> there is still significant distance between the two sides. negotiations continue. >> negotiations will continue through the night. now with just hours to go until the deadline. abc news, washington. >>> as the government teeters on the edge of the fiscal cliff, you might want to change your tax strategy. coming up at 11:35,...
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pay in taxes. below 10,000 they will pay an average of about $300 more. look down the chart a bit. those who make between 40 and 50,000 they will have to pay an extra $1,700 more. looking at the next set of numbers for wage earners, 50 to 75,000. they will have to find an extra $2,300 to send to washington. and if you managed to make over $200,000, if you go over that income mark, it will be a big jump up. you have to send a check to uncle sam for, on average, about 14,000 additional dollars. the highers wage earns 500,000 to a million they will pay an average of $34,000 more. over a million dollars, the irs will want 216,000 additional dollars from you on top of what you already pay in taxes. the upshot of all of this; >> you will have less money to spend in a very difficult economy with very little clarity on how the economy is going to pick up in the near future. even in the long run. we are entering into a very difficult economic environment, unfortunately. >> a wealth manager says need to aust
pay in taxes. below 10,000 they will pay an average of about $300 more. look down the chart a bit. those who make between 40 and 50,000 they will have to pay an extra $1,700 more. looking at the next set of numbers for wage earners, 50 to 75,000. they will have to find an extra $2,300 to send to washington. and if you managed to make over $200,000, if you go over that income mark, it will be a big jump up. you have to send a check to uncle sam for, on average, about 14,000 additional dollars....
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clearly, i don't want taxes to go up. taxes shouldn't go up on anyone. but to only raise taxes on those who are the top earners will only fund the government something like eight days. this is something that the american people need to understand and recognize. there are big failures going on in washington and people need to take notice and hold our politicians accountable. >> arthel: michael? >> if she's right and it's only eight days, why would the republicans hold every american taxpayer hostage for eight days' worth of a deal? there should be a deal on the tax part. it should happen in the next few hours. this is an artificial deadline created by a bunch of politicians two summers ago because they couldn't consume to an agreement. so that's why we're here on the new year's eve trying to figure out how not to have taxes go up by 99.7% of americans, which is what will happen come new year's day. that's why i think you're going to get it. the politician doesn't want to be the one to say i created the largest tax hike in history. >> arthel: so michael, w
clearly, i don't want taxes to go up. taxes shouldn't go up on anyone. but to only raise taxes on those who are the top earners will only fund the government something like eight days. this is something that the american people need to understand and recognize. there are big failures going on in washington and people need to take notice and hold our politicians accountable. >> arthel: michael? >> if she's right and it's only eight days, why would the republicans hold every american...
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forcing tax increases and lactose intolerance on america this morning. jon by the way has a big show. senators chuck schumer and jon kyl on "this week." a lot of news developing overnight. we go to mr. ron claiborne who has extraordinary videotape. >> out of russia. a plane crash outside of moscow. we'll begin with this stunning video. the plane overshot the runway and careened into traffic and abc has the story. >> reporter: you're about to see the terrifying moment of impact as the russian passenger jet slams into a busy highway. watch again. you can see the plane's tire colliding with the moving car. and listen closely. you can hear the squealing brakes and crushing metal. the crash took place on saturday at an airport outside moscow. the red wing's airline's flight broke through a barrier fence shattering into three pieces and bursting into flames before skidding to a stop at the edge of the highway. witnesses rushed to pull survivors out of the wreckage. the russian made tupolev 204 was flying back from the czech republic with no passengers and eigh
forcing tax increases and lactose intolerance on america this morning. jon by the way has a big show. senators chuck schumer and jon kyl on "this week." a lot of news developing overnight. we go to mr. ron claiborne who has extraordinary videotape. >> out of russia. a plane crash outside of moscow. we'll begin with this stunning video. the plane overshot the runway and careened into traffic and abc has the story. >> reporter: you're about to see the terrifying moment of...
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that we're talking about, whether it's something called the alternative minimum tax or the estate tax or extending the current bush-era income tax cuts, all of them cost money. all of them mean we have less revenue to support the operations of government, so if going forward we're going to reach a balance, where we both cut spending and raise revenue, we have to achieve the right balance of those, so if there are folks in the other party, the republican party, who feel strongly that we should not allow income tax breaks of the last decade to continue, that's fine. i think they simply need to be willing to balance that with some of the democratic priorities like extending unemployment insurance benefits for nearly 2 million unemployed americans who will lose them tomorrow. >> thank you senator chris coons for joining us. >> thank you. >> coming up, former president george h.w. bush is out of icu, and the how the oak ridge boys may have helped lift his spirits. >>> and with less than 30 hours to go before the fiscal cliff, we're watching capitol hill for any kinds of a deal today. you'r
that we're talking about, whether it's something called the alternative minimum tax or the estate tax or extending the current bush-era income tax cuts, all of them cost money. all of them mean we have less revenue to support the operations of government, so if going forward we're going to reach a balance, where we both cut spending and raise revenue, we have to achieve the right balance of those, so if there are folks in the other party, the republican party, who feel strongly that we should...
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and the estate tax. it goes on. it goes on. it goes on. why, david jackson, haven't people started screaming from the streets and screaming from the rooftops about what this mean, this is a manufactured crisis. >> well, they haven't felt it in their paycheck and they will after january 1. the government will be taking more out of their paychecks and when the tax time will roll by in april, they'll feel it and businesses will feel it. once people will see they're losing money on this deal you'll see more public outrage about it. >> david naka, mura, calling for an up or down vote if the senate can't come up with it. he's talking about 250,000, at one point 400,000. is it realistic to think that the president can win this thing on an up or down vote? >> if they actually go to an up and down vote there will be a lot of pressure on those who were against a temporary fix with this to make their case known and actually go on the record. that's why the question is would the republican senators who would oppose
and the estate tax. it goes on. it goes on. it goes on. why, david jackson, haven't people started screaming from the streets and screaming from the rooftops about what this mean, this is a manufactured crisis. >> well, they haven't felt it in their paycheck and they will after january 1. the government will be taking more out of their paychecks and when the tax time will roll by in april, they'll feel it and businesses will feel it. once people will see they're losing money on this deal...
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for example, one big tax increase in the obama tax increase package is the capital gains tax rate is going to go up 58% on the higher income taxpayers. and so now in the last 50 years, every time the capital gains tax rate has been raised, capital gains revenues have declined rather than increased. and every time the capital gains tax rate has been cut, capital gains revenues increased rather than declined. and cbo has gotten it wrong every time over 50 years. and so whether you're deal -- what you're doing with obama is not just the expiration of the bush tax cuts, but obama tax goes into effect as well. the cap gains rate will go up 58% and this is going to lose revenue rather than gain revenue just as it has in the past. similarly, the tax increase on dividends. if the bush tax cut expires, along with the obamacare tax increase, the tax rate on dividends is going to increase -- actually triple. when bush cut the tax rate on dividends, dividends pay soared and so did the taxes napad on them as a result. if you reverse that tax cut and put the obamacare tax on top, dividends are goi
for example, one big tax increase in the obama tax increase package is the capital gains tax rate is going to go up 58% on the higher income taxpayers. and so now in the last 50 years, every time the capital gains tax rate has been raised, capital gains revenues have declined rather than increased. and every time the capital gains tax rate has been cut, capital gains revenues increased rather than declined. and cbo has gotten it wrong every time over 50 years. and so whether you're deal -- what...
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the payroll tax holiday. maybe you don't give the whole amount, just part of it. it adds up to $200 billion so the economy continues to grow. then the debt reduction is raised by february. >> mr. davis. he started his comment about solving this saying you have to take the politics out of it. it's not possible at this point. even though the deal, everything you heard from him, you may have agreed with and go along with it. how are you going to take the politics out of it with the clock ticking? >> if you don't get an agreement, it's going to hurt both parties. somebody may have the advantage today and tomorrow in the news headlines, if this doesn't happen, it hurts the president's legacy, it hardens the lines between them. this is not, as joe said, complicated to solve over the short term. long term, a little more complicated. if they can't get through this, it makes it much more difficult over the long term. >> to both of you here, you heard something the president said. david gregory pushed back on the presi
the payroll tax holiday. maybe you don't give the whole amount, just part of it. it adds up to $200 billion so the economy continues to grow. then the debt reduction is raised by february. >> mr. davis. he started his comment about solving this saying you have to take the politics out of it. it's not possible at this point. even though the deal, everything you heard from him, you may have agreed with and go along with it. how are you going to take the politics out of it with the clock...
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higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good morning? >> reporter: house republicans scuttled the proposal from speaker john boehner last week and 48% of americans say they are to blame if no deal is reached. >> both sides here have a problem with the american people and it's why congress has 11% job approval rating. >> reporter: republican pollster frank lund says americans are fed up with gridlock in washington. >> there is no compromise and i think that's going to grow as a
higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many...
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Dec 28, 2012
12/12
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KQED
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it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican minority leader mitch mcconnell offered their takes on the meeting. >> we had a good meeting down at the white house. we are engaged in discussions, the majority leader, myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. and so we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> whate
it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began, several participants...
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Dec 31, 2012
12/12
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KGO
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the tax impact for the average american family is more than $3400. senate leaders continue to work on the stop gap bill. the sticking points remain. >> there is still significant distance between the two sides. negotiations continue. >> negotiations will continue through the night. now with just hours to go until the deadline. abc news, washington. >>> as the government teeters on the edge of the fiscal cliff, you might want to change your tax strategy. coming up at 11:35, advice from 7 on your side's michael finney. ders in the hte did agree on something today. they extended the 2008 farm bill for one more year. that bill expired in october. milk prices could have doubled to $7 a gallon next month if lawmakers failed to extend it. the agreement prevents the government from returning to a 1948 formula to set milk prices. some economists call this the dairy cliff. >>> today was the last sunday for free meter parking in san francisco. next sunday you will have to pay from noon to 6:00 p.m. atish ifer man's wharf from noon until 7:00 p.m. the city set u
the tax impact for the average american family is more than $3400. senate leaders continue to work on the stop gap bill. the sticking points remain. >> there is still significant distance between the two sides. negotiations continue. >> negotiations will continue through the night. now with just hours to go until the deadline. abc news, washington. >>> as the government teeters on the edge of the fiscal cliff, you might want to change your tax strategy. coming up at 11:35,...
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Dec 27, 2012
12/12
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aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate some big spending cuts and restore unemployment benefits. >> i think you're likely to see a two-step process here, one sort of dealing with the immediate dynamics so that you could in fact set up a situation where you could deal with the larger situation. >> reporter: without a deal, bush-era tax cuts will expire january 1st and deep spending cuts will set in. congress set up the deadline, hoping it would force a compromise. so far, that's backfired. also flying back on air force one is lieutenant governor brian schatz and will likely be sworn in later today. just before taking off, he tweeted that he's looking forward to supporting the president's agenda. reporting live in washington, i'm dan yeielle leigh. mara, back to you. >> thank you. >>> tim geithner is adding to the pressure to get the office calf cliff deal done. in an open letter wednesday, he warned the federal government may not be able to pay its bills once the country reaches its borrowing limit on december 31st, which is mon
aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate some big spending cuts and restore unemployment benefits. >> i think you're likely to see a two-step process here, one sort of dealing with the immediate dynamics so that you could in fact set up a situation where you could deal with the larger situation. >> reporter: without a deal, bush-era tax cuts will expire january 1st and deep spending cuts will set in. congress set up the...
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Dec 28, 2012
12/12
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WJZ
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it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants were seen leaving. >> and back at the capital the senate's democratic majority leader harry reid and republican minority leader mitch mcconnell offered their takes on the meeting. >> we had a good meeting down at the white house. we are engaged in discussions, the majority leader myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. and so we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> whateve
it included keeping the bush era tax break force the middle class but raising tax rates on incomes over 250,000 dollars a year. president also wants to extend unemployment benefits for some 2 million americans who will lose them in the new year. and a proposal would delay any spending cuts. the president asked for an up or down vote on his plan unless there is a counter proposal that will pass both the house and senate. a little more than an hour after the meeting began several participants...